123:
In 2015, ASA gained control of the company and its assets, after acquiring BNC's holding company Mwana Africa and expelling founder Kalaa Mpinga from the company. The "coup" was orchestrated by
Chinese International Mining Group Corporation (CIMGC), BNC's largest shareholder, and CIMGC chairman Yot
119:
The company was the best performer on the
Zimbabwe Stock Exchange in 2014. After a dip in Bindura Nickel Corporation's share price in 2015, there were reports that the Zimbabwe Stock Exchange had struggled as a result, with the mining index dropping 50% that year. BNC that year was the second worst
94:
Mwana was considering delisting BNC from the
Zimbabwe Stock Exchange in 2009, as it sought to raised up to $ 150 million to restart operations in Bindura under CEO Kalaa Mpinga. In September 2011, the company received a $ 10 million dollar loan to pay for operations while the company sought restart
90:
The shut down of BNC in 2008 resulted in many job losses without compensation and with employees being told not to look for other jobs as they would be reinstated once the mine re-opens. Employees who were retrenched received a stipend of $ 50 a month. Given that many employees have families, many
106:
in 2013. The losses totaled $ 42.5 million, more than $ 35 million more than the previous year. At the time, the CEO of BNC was Kalaa Mpinga. Prior to the impairment, the company had shown its first profit since 2007, with revenues in 2013 of $ 109 million. In 2013, Mpinga stated that a plan to
86:
After a plunge in nickel prices, in 2008 BNC began operating on "care and maintenance," i.e. sans production. At the time of its shutdown, it was the only integrated nickel miner, smelter and refinery in Africa. The cost of resuming the Trojan mine was estimated at $ 50 million, and the
Bindura
140:
By July 2018, the company was in the red, with assets of $ 28 million and liabilities totaling $ 32.7 million. At that point, the smelter restart project at
Bindura had been suspended due to funding constraints, and was 83% complete. At that time, the company pointed to hobbling power costs in
127:
In 2015, the company stopped its Trojan Mine restart program and re-deep project. The company continued a restructuring in 2015, firing 350 workers, with intent to reduce headcount by up to 1,150 people. Yat Hoi Ning was serving as executive chairman. In 2016, the company cut production costs,
78:
sold its stake in the company, selling its 52.9% stake in
Bindura Nickel Corporation to Mwana Africa Holdings for $ 8 million. In 2004, ASA Resource Group acquired the majority share of BNC from Anglo American Corporation, owning about 75%. BNC's debts subsequently went over $ 31 million.
82:
After the murder of BNC's chairman
Leonard Chimimba in May 2006, there were media reports speculating foul play by the Botswana government. BNC hired an investigation firm in South Africa, and said there was "nothing unusual" about his death in a carjacking.
155:
In 2019, it was working on a feasibility study of a $ 200 million
Hunters Road mine, which was estimated to have 200,000 tons of nickel. In September 2019, BNC was evaluating takeover bids. In 2020, BNC was headed by CEO Batirai Manhando.
95:
funding. In 2012, after it was closed, BNC stated that it would again begin underground operations at Trojan Nickel Mine. In 2012, China
International Mining Group Corporation spent $ 21 million to recapitalise BNC.
136:
After 2017, Chinese group ASA Resources Group said it was selling its stake in
Bindura Nickel Corporation. At the time, ASA operated Trojan Nickel Mine through BNC. In January 2017, Asa Resources owned 76% of BNC.
128:
increasing gross production and increasing profit by 261%. The following year, their Trojan mine smelter was stalled over a lack of funding. At the time, it was still Africa's only integrated nickel producer.
124:
Hoi Ning. BNC was 75% owned by Mwana Africa in August 2015, with Kalaa Mpinga bidding to retain his position as BNC chairman despite being forced out of Mwana on June 10 after clashes with shareholders.
115:
BNC in 2014 was operating the Freda Rebecca gold mine in Zimbabwe. The mine was complying with a law newly enforced by Zimbabwe that required 51% of the company be held by black nationals of the country.
107:
develop Bindura's " refinery and smelter at Mwana's nickel operations" would be enacted by 2014. The mine and plant had been put on hold in 2008 due to weak nickel prices, but had been restarted in 2012.
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rules relating to mining companies. In 2019, it was saying that its Trojan Mine smelter would be operational by October 2020. The company had recently been acquired by Sotic International.
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left the mines with no compensation and have since struggled to make a living with very little consequence to the company.
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Zimbabwe, and was pressing the government for a "standstill on electricity costs in order to keep the industry viable."
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The Bindura Smelter and Refinery Complex is located south of the town of Bindura. The
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A $ 43.7 million impairment charge for Bindura Nickel Corporation’s operations in
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707:"Zimbabwe’s Bindura Nickel sounds alarm on going concern status"
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532:"Bindura Nickel Corporation soars 136%, best ZSE performer"
514:"BNC smelter upgrade important short-term focus for Mwana"
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complex at $ 150 million. Mwana owned 53% of the company.
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Mwana widens FY loss after $ 43.7m BNC impairment charge
418:"Mwana May Delist Bindura in Zimbabwe, Trade Own Stock"
816:
Companies listed on the Victoria Falls Stock Exchange
343:"BNC finalising takeover bids amid Tagwirei shadow"
46:, an African multinational mining company based in
723:"BNC lobbies RBZ to up forex retention threshold"
787:
382:"Zimbabwe's Bindura okays $ 10m loan from Mwana"
326:"Anglo American to Sell Stake in Bindura Nickel"
102:resulted in huge losses for its parent company,
801:Companies listed on the Zimbabwe Stock Exchange
781:Bindura Nickel Corporation @ Mwana Africa plc
436:"Mwana Africa restarts work at Zimbabwe mine"
71:The company's founding CEO was Kalaa Mpinga.
666:"Lack of funding stalls Trojan mine smelter"
361:"Bindura says Chimimba victim of carjacking"
684:"Mwana chief Mpinga ousted after upheavals"
496:"Zimbabwe 'unlikely' to seize mine stakes"
455:"Mining firm slapped with $ 20m lawsuit"
400:"Mwana Africa to carry out rights issue"
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42:. BNC is operated and majority-owned
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164:The chairman is Muchadeyi Masunda.
19:(BNC) is a mining company based in
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741:"BNC seeks special power tariff"
420:, Vernon Wessels and Ron Derby,
328:, AngloAmerican (April 15, 2003)
266:"Bindura Nickel Corp in the red"
550:"BNC plunge drags mining index"
759:"BNC injects $ 3m in projects"
144:In 2019, BNC was lobbying the
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1:
588:"Chinese oust Mwana's Mpinga"
243:
167:
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806:Mashonaland Central Province
630:"BNC to dismiss 350 workers"
238:Copper mining and extraction
233:Nickel mining and extraction
181:Trojan Nickel Mine - Bindura
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609:"Mpinga guns for BNC chair"
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120:performer on the exchange.
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17:Bindura Nickel Corporation
178:Shangani Mine - Zimbabwe
146:Reserve Bank of Zimbabwe
648:"BNC back in the black"
50:. BNC is listed on the
38:complex in the area of
709:, Memory Mataranyika,
571:"Chinese exit Bindura"
485:: Mining Weekly, 2013
743:, Fidelity Mhlanga,
725:, Fidelity Mhlanga,
671:Zimbabwe Independent
558:(September 13, 2015)
390:(September 22, 2011)
351:(September 27, 2019)
686:, Tawanda Karombo,
674:(December 15, 2017)
638:(December 15, 2015)
308:"Chaos at Bindura!"
67:Creation of company
25:Mashonaland Central
767:(January 20, 2020)
731:(December 1, 2019)
656:(December 5, 2016)
632:, Oliver Kazunga,
522:(January 29, 2014)
442:(November 8, 2012)
316:(October 28, 2015)
289:, Melody Chikono,
516:, Leandi Kolver,
463:(January 4, 2017)
426:(October 6, 2009)
185:Products include
40:Bindura, Zimbabwe
30:Bindura operates
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295:(August 5, 2019)
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220:cobalt hydroxide
210:produces nickel
44:Mwana Africa plc
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537:Sunday Mail
132:Sale by ASA
790:Categories
668:, Author,
402:, Author,
313:The Herald
244:References
168:Operations
160:Key people
148:to change
635:Chronicle
614:Chronicle
423:Bloomberg
271:Chronicle
111:2014-2015
74:In 2003,
711:MiningMx
227:See also
212:cathodes
100:Zimbabwe
54:and the
21:Zimbabwe
811:Bindura
746:NewsDay
576:Newsday
405:Reuters
387:Reuters
208:smelter
201:Smelter
62:History
36:smelter
501:News24
195:cobalt
191:copper
187:nickel
34:and a
173:Mines
150:forex
32:mines
218:and
193:and
56:VFEX
689:iOL
58:.
52:ZSE
23:'s
792::
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